Banking

Working Paper

01 December 2014

Principles of Financial Regulation

Inadequate regulation of the financial system is widely thought to have contributed to the financial crisis. The purpose of the book is to articulate a framework within which financial regulation can be analysed in a coherent and...

John Armour | Dan Awrey | Paul Davies | Jeffrey Gordon | Colin Mayer | Jennifer Payne
01 October 2013

The Effect of Creditor Rights on Bank Monitoring, Capital Structure and Risk-taking

We examine the multi-faceted effect of creditor rights on the way banks monitor, operate and finance themselves. We present a simple analytical model that shows that a strengthening of creditor rights reduces the need for banks to...

Sudarshan Jayaraman | Anjan Thakor
01 February 2014

Getting Incentives Right: Is Deferred Bank Executive Compensation Sufficient?

In the wake of the global financial crisis, attention has often focused on whether incentives generated by bank executives? compensation programs led to excessive risk-taking. Post-crisis, compensation reform proposals have taken...

Sanjai Bhagat | Brian Bolton | Roberta Romano
01 March 2014

Quack Corporate Governance, Round III? Bank Board Regulation Under the New European Capital Requirement Directive

After a crisis, broad-sweeping reforms are enacted to restore trust. With the 2013 Fourth Capital Requirements Directive (CRD IV), the European Union has engaged in an ambitious overhaul of banking regulation following the Great...

Luca Enriques | Dirk Zetzsche

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